2015 Mississippi Code
Title 83 - INSURANCE
Chapter 24 - INSURERS REHABILITATION AND LIQUIDATION ACT
§ 83-24-89 - Deposit of unpaid funds with State Treasurer; escheat proceedings

(1) All unclaimed funds subject to distribution remaining in the liquidator's hands when he is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member or other person who is unknown or cannot be found, shall be deposited with the State Treasurer, and shall be paid without interest except in accordance with Section 83-24-83 to the person entitled thereto or his legal representative upon proof satisfactory to the State Treasurer of his right thereto. Any amount on deposit not claimed within six (6) years from the discharge of the liquidator shall be deemed to have been abandoned and shall be escheated without formal escheat proceedings and shall be deposited into the General Fund.

(2) All funds withheld under Section 83-24-73 and not distributed shall upon discharge of the liquidator be deposited with the State Treasurer and paid by him in accordance with Section 83-24-83. Any sums remaining which under Section 83-24-83 would revert to the undistributed assets of the insurer shall be transferred to the State Treasurer and become the property of the state under subsection (1), unless the commissioner, in his discretion, petitions the court to reopen the liquidation under Section 83-24-93.